[Image courtesy of www.hsbc.com]
CBI member HSBC recently expanded its presence in southwestern China by opening a new branch in Kunming, the capital of Yunnan province.
Commenting on the launch of the new branch, Helen Wong, President and Chief Executive Officer of HSBC China, said, "Yunnan's unique geographic location makes it China's important gateway to ASEAN. Leveraging our comprehensive network and cross-border capabilities, the new Kunming branch will support domestic enterprises looking to capture business opportunities in the region."
ASEAN is China's third-largest trading partner, with bilateral trade volumes reaching $171.1 billion in the first half of 2011, up 25% over the same period last year.
HSBC currently has offices in the seven following ASEAN countries: Brunei, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
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